WATERLOO, Iowa (AP) — The city of Waterloo is considering buying the idle former Hostess plant downtown to encourage development.
The Waterloo-Cedar Falls Courier reports the City Council will vote Monday on a plan to spend $400,000 on the building that used to serve as a Wonder Bread bakery and up to $15,000 on closing costs.
The Waterloo bakery has been closed since November 2012 when Hostess Brands filed for bankruptcy protection. Dozens of workers lost their jobs when the bakery closed.
Flowers Foods Inc. bought the Wonder bread brand from the now-defunct Hostess Brands, but it didn't revive all of Hostess' old bakeries, including the Waterloo one.
Flowers Foods paid $442,460 when it acquired the building in the Hostess liquidation.
City planning director Noel Anderson said the purchase offer is less than the building's assessed value to account for demolition costs.
No projects are in the works for the bakery at this point, but the building is near several other downtown revitalization projects the city has already started.
"I don't believe there's any plans for it yet," Anderson said.
But several groups have stated they want the 86-year-old building preserved.
Anderson said the city would like to see the bakery site used for something that's compatible with the surrounding projects that attract heavy foot traffic.
The sprawling bakery in downtown Waterloo was built in 1928, and it is located near the RiverLoop Amphitheatre, public library and Waterloo Center for the Arts.